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EUR/USD Pushes Lower; GBP/USD Takes A Sharp Turn

EUR/USD Pushes Lower; GBP/USD Takes A Sharp Turn

EUR/USD

EUR/USD Chart

EUR/USD pushed lower yesterday, touching 1.1130 – its lowest level this month. After finding support the pair ascended upwards and crossed the 1.1200 handle, continuing to hold on to its bullish tone.

The near-term bias is neutral to bullish with a target of 1.1310.

RSI (14), STOCH (9, 6), CCI (14) are neutral; MACD (12, 26), ROC, MA100 indicate a BUY; while Average True Range (14) indicates less volatility.

Support is at 1.1227 while resistance is at 1.1270 and 1.1281.

17th June 2016 – 09:09hrs GMT

GBP/USD

GBP/USD Chart

GBP/USD had a roller coaster ride yesterday as it slipped to lows of 1.4015, then after finding support it staged an upwards rally crossing the 1.4200 handle in the US trading session. It continues to maintain bullish tones, trading above 1.4250 in the European trading session.

The near-term bias is bullish with a target of 1.4370.

RSI (14), CCI (14), STOCH (9, 6), STOCHRSI (14), MACD (12, 26), ROC indicate a BUY; ADX (14) is neutral while Average True Range (14) indicates less volatility.

Support is at 1.4205 while resistance is at 1.4373.

17th June 2016 – 09:18hrs GMT

Disclaimer: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

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